Now Playing

5/16/2013 10:25AM

Glencore Appoints Ex-BP Chief as Interim Chairman

The former BP CEO, Tony Hayward, has been appointed interim chairman of Glencore Xstrata after John Bond was voted out by the company’s shareholders. His appointment comes as BP puts the cost of the Deepwater Horizon disaster at about $40 billion, which took place when Mr. Hayward was CEO.

This transcript has been automatically generated and may not be 100% accurate.

I ... the ... Dalit ... UT is this the former ... chief executive of BP ... has been appointed interim chairman of the ankle tricks tossup well ... since that has been tracking with a lid on ... it's it's a it's a bad ... bet ... well he's been at the company for some time he's been as seniors recommended this is really as you say is the first time he's come so this of the top table of U K business ... it is a IIa ... a form of redemption when I called the the the the ... the present Emma Delta mascot is Asta EU is ... they must personally vilify is in the media for ... missteps and then also for the simple fact that deals that went on sale on ... people died an exhaustive people some huge losses the diamonds diamonds so ... this is the form of rehabilitation for sticking with this place because this comes in the same time that BP itself is complaining about the costs of the people of Verizon does ASA and everything else which is something at the office made a lot of people connected to the house but ... yet Sydney mean it's a sign of the scale that is Asta from BP that he is on a still facing with received billions in costs ... it still undermining a love of the company's growth ... and its ability to generate ... profits so ... it's a defined that ... BP is still suffering from the legacy of the last two years ago isn't as a symbol of ... how big a mistake it was okay so what does MS do indeed since he stepped down from me ... when he didn't really have a much too long hiatus from the also say he's been working with a company called ... Jenna Allen and she witches that's backed by the billionaire parents when and what styles ... is also a semi controversial figure in this country ... I don't know is mainly of racing in the Kurdish region of Iraq ... they have a number of ... these most sized oil fields that ... but it's not an area without controversy because companies like gentle if you read this post as CEO placing incur this time ... against the wishes of the Iraqi central government that they say that these companies nineteen eighty two even though they have ... the approval of local government says ... it certainly isn't the case that most anyone has avoided competencies it's can be a ok and there is this thing about that for months ... yet started on a new faces song on at the moment we know what is expected to vote except on receives about so early in ... a lettuce that didn't last question ... well Mr bomb hundred choice he didn't step down he was rejected him but the AGM today in in Switzerland I think ... to relate to one percent of ... shareholders vote against it ... and also a number of other ex truffle Neustar's the judges rejected ... this is GTL feeling over ... when the two companies are being told to get them and he was this auntie was seen as being ... a chief opponents of a pay package to attain playing out it's awesome I mentioned ... that was seen by many investors to the excess ... so that was the son of ... the venture to feeling ok here with the Boston ... common ... what's interesting is ... that it's gonna be attempt the role of The will step down when many challenges filings ... I we don't know the state to that's can it be nice to ... find ways and they accuse the chief executive of Boeing Co its roster ... said he's looking for someone who doesn't wanna see industry has its national conglomerates ... someone he's not afraid to ... speak than mine and taken on a board meetings and given them a surprise visit a formidable figure in himself ... say he's Katie given it a very ... high profile of the place says enough ... but there's a kid